James M. Buchanan, a Nobel laureate in economics — and my former colleague and now professor emeritus at George Mason University — argued that deficit spending would evolve into a permanent disconnect between spending and revenue, precisely because it brings short-term gains. We end up institutionalizing irresponsibility in the federal government, the largest and most central institution in our society. As we fail to make progress on entitlement reform with each passing year, Professor Buchanan’s essentially moral critique of deficit spending looks more prophetic.
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Economia
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Economia
A imoralidade do déficit spending
Economic View
It’s Time to Face the Fiscal Illusion
By TYLER COWEN
Published: March 5, 2011
FISCAL policy debates often focus on technocratic questions about how much money the government should spend and when, yet the actual course of events depends not on the experts but on politics. The more that our government runs up unfunded obligations and debt, the more we are setting a trap for ourselves. David G. Klein
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- Keynes Foi Um Keynesiano?
Was Keynes a Keynesian? Send to Kindle By Stephen Hicks December 29, 2015 1 John Maynard Keynes’s main claim to fame is his advocacy of deficit spending as a tool of economic recovery. In a depressed economy, the argument runs, the...
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Ed Lazear acredita que é a segunda alternativa. Ele argumenta: "Congress and the Obama administration have used the economic downturn as an excuse to expand the size of government. Calling it a stimulus, they have instead put in place a spending agenda...
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